itonewbie
Level 15
04-19-2022
02:20 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The most likely culprit is Screen 12.
Check your entries under the Foreign Tax Credit section and make sure you have entered -1 for the line "Precentage foreign (.xxxx) or amount if different - Capital Gain Distributions".
If you have input for the other lines (i.e. Total Ordinary Dividends and Qualified Dividends), Lacerte (and ProConnect Tax for that matter) tends to treat a blank as 100% and the way to avoid that is to enter the all-powerful and magical -1.
If you already have -1 for CGD but yet that isn't fixed, check Screen 35.1. Under the Gross Income Within Country section, make sure you have the correct adjustments and/or overrides for CGD.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar